Due to bad advice, many offers of building societies often come to their customers too expensive. In the field test by Stiftung Warentest, four providers fall through.
Many savings customers pay the assessment of the Stiftung Warentest due to poor advice too much. Four of twenty building societies fell in a test with a grade of “poor” by how the foundation announced in Berlin on Tuesday. Aachener Bausparkasse and the German Bank building society and the two regional building societies (LBS) West and Rhineland-Palatinate fell through. Only three times, the testers awarded the grade “good”.
Part of deals thus several thousand euros was too expensive, in other cases, customers had to wait too long for their housing loans. Sometimes the property purchase should have been postponed for years because the contract sum was inflated so that the customer would get the money only in 15 or 20 years.
The question of property: building society remains despite Mini interest an interesting investment
Time the building society loans were too small in relation to saving power, sometimes the credit rate been crushing high. Often, the customers were also informed about the conditions so poor that they with those of other funds could compare the offers barely.
In the test was examined to what extent the consultants the necessary customer data inquired such as the desired savings rate, the income or the presence of savings and other investments. Was examined also whether the offer fits the customer, that is assigned as the contract sum to the planned financing and the required savings rate is maintained and the credit rate corresponded to the customer’s needs.
is building savings and but remains “a great idea” for savers who later buy a property or wanted to build, the foundation emphasized. They saved a few years and then would get paid their savings and a favorable loan. Even paid building societies virtually no savings rates, but for this, they secured favorable lending rates from 1.5 to 3.0 percent. Each year would complete three million new contracts.
hard to judge the quality of advice for amateur
The Foundation looks at the different quality of the counseling sessions as problematic. Even trained for the task tester without special knowledge building society had completely located with their assessment of the test calls sometimes wrong. Many felt competent advice, but the expert analysis of the written offers and completed by the testers log sheets have often shown that the offer in question was “abysmal” and would have cost the savings customers a lot of money.
was strange was that a consultant part out have a certain tariff want to sell, which have, however, only suitable for saving on purchases such as furniture or the like, and the contract sum was limited to 10,000 euros. wanted the savers to buy a property and save it 400 euros a month, did not fit into the concept of the consultant. “More than 64 euros a month can not,” he had granted the baffled customers.